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LONDON (MNI) - The calendar starts early Wednesday, with ECB Executive
Board member Peter Praet speaking in Berlin at 0700GMT. Also at 0700GMT, Spain's
Industrial Production data will be released. Previously, industrial production
grew y/y by 5.1%.
Next up at 0715GMT is Switzerland's CPI data. Previously, the m/m and the
y/y figure grew at 0.2% and 0.8% respectively. In Germany, VDMA machine orders
is at 0800GMT which declined by 4.0% y/y.
BOE MPC member Silvana Tenreyro spoke on Monday in Surrey, England and now
speaks again, at 1000GMT in Belfast, Northern Ireland.
The States' only release of the day is at 1230GMT and is a simultaneous
release of the trade balance and final nonfarm productivity. The international
trade gap is expected to hold steady at $49.0 billion in April. The advance
estimate of the Census goods trade gap narrowed very slightly to $68.2 billion,
with exports and exports both down 0.5% in the month.
Nonfarm productivity is expected to be revised slow only modestly to a 0.6%
pace in the first quarter from a 0.7% gain in the preliminary estimate. Growth
in outlays should be revised only slightly based on the GDP report. Unit labour
costs are expected to be revised unrevised at the 2.7% pace seen in the
Canada also sees a simultaneous release at 1230GMT with their building
permits and international merchandise trade. Building permits previously grew by
3.1%. The trade balance was previously a record deficit of CAD4.1bn, however
this is anticipated to lower to CAD3.0bn.
Next up at 1330GMT is ECB Supervisory Board Member Pentti Hakkarainen
speaking in Lisbon, Portugal.
The Ivey PMI is next in Canada at 1400GMT with a previous reading of 71.5.
BBK Board member Johannes Beermann speaks in Dresden, Germany at 1610GMT.
An hour later is ECB Supervisory Board member Ignazio Angleoni speaking in
At 2230GMT in Australia is the AI Group/HIA construction index which
previously had an index reading of 55.4. Finishing up at 0130GMT is Australia's
monthly trade balance. A prior surplus of AUD1527mn is expected to drop slightly
--MNI London Bureau; tel: +44 203-586-2225; email: email@example.com